Nell Is Considering Forms of Business Organization for Optic Center

question 32

Multiple Choice

Nell is considering forms of business organization for Optic Center, a medical eye clinic. An advantage of a limited liability partnership is that partners can avoid personal liability for

• A) their own wrongful acts.
• B) the malpractice of other partners.
• C) all wrongful acts.
• D) none of the choices.

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Definitions:

Legal Consent

The voluntary agreement from a person with full understanding of the facts and implications to participate in a specific legal act, contract, or activity.

Undue Influence

A situation where an individual is able to persuade another's decisions due to the relationship between them, typically where one party is in a position of power over the other.

Dominant Position

A situation where a company or entity has a significant or controlling influence over a market, allowing it to set prices or control the supply of products or services.

Nondisclosure

The obligation to keep certain information confidential and not share it without authorization.